Glossary

Aerius calculation

The AERIUS calculation tool is part of the Dutch integrated approach to nitrogen emissions (or PAS, from the Dutch Programmatische Aanpak Stikstof). It is used to calculate the nitrogen deposition on Natura 2000 areas as a result of projects and plans. Pursuant to the Dutch Nature Conservation Act, these calculations are mandatory for permit granting.

Average invested capital

Average invested capital is the metric used to measure the efficiency of capital utilisation. It represents the average amount of capital invested over a given period in assets used to generate income. It can be broken down as follows:

Beyond Eyes

A Heijmans initiative. A collection of data-driven services for smart building management: BE Equipped, BE Vital, BE Energized, BE Clean and BE Safe.

Near energy neutral building (BENG) standard

Standard that sets criteria for the energy performance of a building and expresses this using three indicators: energy demand, primary energy use and share of renewable energy.

BREEAM score

Building Research Establishment Environmental Assessment Method. BREEAM-NL has been the certification method for a sustainably built environment since 2009. This method can be used to assess projects for overall sustainability.

Building Information Model (BIM)

A central, digital platform that combines all relevant information during the construction process and which is used by all parties involved to achieve consistent interpretation and to steer the construction process in the right direction. This leads to a digital (3D) model of the structure to be realised.

Chain integration

Cooperation within and between the successive links within an organisation or business column, from suppliers right through to clients.

Climate adaptation

Climate adaptation combats the effects of climate change and could help the Netherlands become resistant to climate change. Adaptation is made possible by setting climate buffers.

CO₂ credits

A CO₂ or carbon credit is a tradable unit that allows an organisation to offset its own CO₂ emissions by reducing CO₂ emissions elsewhere.

CO₂ emissions

CO₂ (carbon dioxide) emissions measured over a period of time.

CSRD

Corporate Sustainability Reporting Directive (CSRD). The CSRD is a European guideline for sustainability reporting.

Custodians

Financial parties that act as custodians for shares. 

DBFMO contract

DBFM stands for Design, Build, Finance and Maintain, a type of contract under which the contractor is responsible for both the design and building of the project, as well as financing and total maintenance. It frequently involves long-term, large infrastructural projects in groundwork, road building and waterway construction (such as roads, locks and bridges) and property development.

Energy transition

This is the transition from fossil fuels (natural gas, coal, oil) to sustainable energy (wind, solar, biomass and hydrogen). Targets and the measures to achieve these targets are laid down in the Dutch government’s Climate agreement.

Fleet review

The annual review of know-how, talents and competencies of Heijmans’ employees.

Generic Gate Instructions (Dutch: GPI)

This is a uniform set of safety instructions followed by everybody who enters a building site: this has been mandatory at all Dutch building sites since 1 April 2019.

GO!

An internal safety improvement programme designed to eliminate accidents (‘No accidents’) and improve safety and safety awareness in the organisation.

Green Deal

Green deals are agreements between organisations, citizens and public sector bodies to provide space for innovative initiatives from society to accelerate the transition to a sustainable economy.

Greenhouse Gas Protocol

This is a protocol initiated by the World Business Council for Sustainable Development and the World Resources Institute, together with a number of NGOs, including the WWF and a number of companies, including Royal Dutch/Shell. The aim is to develop procedures and
 instruction manuals for the calculation and reporting of greenhouse gas emissions.

Heijmans B’woond

Renovation concept for existing/occupied homes targeted at housing corporations and investors.

Heijmans Horizon

Timber-frame homes that Heijmans builds in its own production plant in Heerenveen.

Heijmans Huismerk

This is a concept home with a high level of standardisation, intended for the rental market, commissioned by housing corporations and investors. The production process is largely industrialised. Prefab sections are assembled at the building site.

Heijmans ONE

These are moveable one-person homes for specific target groups that are poorly served in the current housing market, such as starters, people in urgent need of a home and refugees with residence permits.

Heijmans TWO

High-end variant of the Heijmans ONE that complies with the building code for permanent housing, which means it is not mandatory to relocate the home after ten years.

IF figure

The Injury Frequency (IF) index figure is the number of accidents resulting in absenteeism that occur in a particular timeframe, divided by the number of work hours.

Integrated Reporting Framework

This is integrated reporting in which organisations indicate how sustainably they operate and how strategy, governance, performance and outlook deliver (social) value in the shorter and longer term.

KPI

Key performance indicators, or KPIs, are variables used to analyse the performance of companies.

LEAN

LEAN is a business methodology designed to increase efficiency. Application of the LEAN methodology is used primarily to develop flexible working practices, driven by
 customer demand and the maximum elimination of waste.

Machine learning

Machine learning (ML) is a form of artificial intelligence (AI) aimed at building systems that can learn from processed data or use data to improve performance. 

Nature-inclusive construction

Nature-inclusive construction is an approach – tailored to the area due to be developed - that combines the design of the construction project with the strengthening of the natural green areas. The aim is to create a healthy, future-proof living environment for both people and
 animals.

Net margin

The net margin is the ratio that measures profitability by comparing profit after tax to revenue. It can be broken down as follows:

Net debt / Net cash

Net debt / Net cash is the metric used to assess a company’s financial health. It is calculated by deducting total cash and cash equivalents from total debt. Depending on the balance, we refer to it as Net debt or Net cash. This metric is calculated as follows:

Operating margin

Operating margin is the ratio used to measure operational efficiency and profitability. It indicates how much profit is generated in relation to revenue, net of operating costs. It can be broken down as follows:

Porthos ruling

Porthos is a collaboration between the Port of Rotterdam, Gasunie and EBN. Porthos is developing a project in which CO₂ from the industry in the port of Rotterdam will be transported and stored in empty gas fields under the North Sea. In November 2022, the Council of State issued an interim ruling on Porthos’ use of the statutory construction exemption. This exemption means that no permit is required for nitrogen emissions that occur during project construction. The Council of State ruled that the construction exemption may not be used, as it cannot be ruled out that it could damage nature in Natura 2000 areas. This ruling has major implications for construction, infrastructure and sustainability projects in the Netherlands.

Procurement

Procurement is the process of finding, agreeing on terms and acquiring goods, services or works from external parties.

Procurement spend

Heijmans’ annual spend on suppliers.

Profit after taxes as a % of equity

‘Profit after tax as a percentage of equity’ is the ratio that measures profitability relative to equity. 

Profit after tax as a % of revenue

‘Profit after tax as a percentage of revenue’ is the ratio that indicates what percentage of revenue remains as profit after tax. 

Return on average invested capital

Return on average invested capital (ROIC) is the ratio used to measure the efficiency of capital utilised to generate profits. ROIC indicates how much return is generated on the average amount of capital invested over a given period of time.

Roadshow

This is a series of presentations in which a company explains the financial-economic and strategic aspects of its business with the aim of increasing the awareness of the shares in that company and by doing so supporting its share price.

SDGs

Sustainable Development Goals (SDGs): 17 sustainable development goals with 169 sub-goals, formulated by the United Nations, with the aim of eliminating poverty, inequality and climate change in 2030. The goals constitute an international agenda for governments,
 companies, NGOs and knowledge institutes.

Smarter

This is the application of smart technologies so buildings and areas can generate data that enables the more effective management of resources.

Smart grid

A smart electricity system that matches demand for electricity with supply at any given moment.

SpeakUp system

This is a procedure with a related system to make anonymous reports regarding abuses within the company by telephone or online via a website. Both the procedure and the system run via an external, independent and specialised party that Heijmans has hired for this
 purpose.

Structures

These include structures such as bridges, tunnels, locks and viaducts.

Underlying EBITDA

Underlying EBITDA is the operating result before depreciation and amortisation, including EBITDA from joint ventures, excluding any impairment of real estate and/or goodwill, restructuring costs, acquisition costs, including retention bonuses and book results on the sale or purchase of entities. The underlying EBITDA defined as such also forms the basis of the calculation of the covenants to the banking group. It can be broken down as follows:

Underlying EBITDA margin

The underlying EBITDA margin refers to the calculated underlying EBITDA divided by revenue.

Value creation model

This is a schematic visualisation of how a company creates value for its stakeholders and society as a whole. The model provides insight into capital flows, business model and concrete results as output and the impact and broad-based value that is created for society.